The SBA has issued a Loan Necessity Questionnaire for Paycheck Protection Plan borrowers with an original principal amount of $2 million or more. This form is to facilitate the collection of supplemental information that the SBA loan reviewers will use to evaluate the good-faith certification that borrowers made on the initial application for the loan […]
The California Department of Business Oversight has officially changed its name to the Department of Financial Protection and Innovation (DFPI). The department name change became effective September 30, 2020. While the DFPI has yet to set a firm deadline for updates to loan documents, business cards, or websites, licensees should complete this legally required transition […]
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The California wildfires and the Iowa derecho that occurred this summer have wreaked havoc on area residents. While federal disaster relief is available, the IRS recently released information on assistance it may offer. According to the IRS, victims of the latest California wildfires and the August 10th Iowa derecho now have until December 15, 2020 […]
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Reminders for REITs on Prohibited Transactions was originally published in AAPL’s Summer Edition 2020 Private Lender Magazine. The passage of the Tax Cuts and Jobs Act led to an increase in the number of private lending funds converting to mortgage REITs over the past two years. Fund managers made the conversion decision by carefully weighing […]
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Retirees over the age of 70 ½ might be struggling to make sense of the new regulations with the passage of the SECURE Act at the end of 2019 and the current CARES Act. These new regulations may be confusing for retirees in regard to required minimum distribution (RMD) rules. The SECURE Act passed last […]
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PPP Loan Forgiveness Form
/0 Comments/in CARES Act and PPP, News /by JanisThe SBA has issued a Loan Necessity Questionnaire for Paycheck Protection Plan borrowers with an original principal amount of $2 million or more. This form is to facilitate the collection of supplemental information that the SBA loan reviewers will use to evaluate the good-faith certification that borrowers made on the initial application for the loan […]
Department of Business Oversight’s New Name
/0 Comments/in Announcements, News /by JanisThe California Department of Business Oversight has officially changed its name to the Department of Financial Protection and Innovation (DFPI). The department name change became effective September 30, 2020. While the DFPI has yet to set a firm deadline for updates to loan documents, business cards, or websites, licensees should complete this legally required transition […]
Tax Relief for Victims of California and Iowa Disasters
/0 Comments/in IRS, News, Taxes /by JanisThe California wildfires and the Iowa derecho that occurred this summer have wreaked havoc on area residents. While federal disaster relief is available, the IRS recently released information on assistance it may offer. According to the IRS, victims of the latest California wildfires and the August 10th Iowa derecho now have until December 15, 2020 […]
Reminders for REITs on Prohibited Transactions
/0 Comments/in Fund Accounting, News /by JanisReminders for REITs on Prohibited Transactions was originally published in AAPL’s Summer Edition 2020 Private Lender Magazine. The passage of the Tax Cuts and Jobs Act led to an increase in the number of private lending funds converting to mortgage REITs over the past two years. Fund managers made the conversion decision by carefully weighing […]
CARES Act Rules for IRAs, RMDs & the August 31 Deadline
/0 Comments/in CARES Act and PPP, COVID-19 Info, IRS, News, Retirement /by JanisRetirees over the age of 70 ½ might be struggling to make sense of the new regulations with the passage of the SECURE Act at the end of 2019 and the current CARES Act. These new regulations may be confusing for retirees in regard to required minimum distribution (RMD) rules. The SECURE Act passed last […]